Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Short Interest Down 16.3% in July

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 82,300 shares, a decline of 16.3% from the June 30th total of 98,300 shares. Based on an average daily trading volume, of 78,400 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Pioneer Power Solutions in a report on Tuesday, April 2nd. Lake Street Capital cut their price objective on Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Institutional Investors Weigh In On Pioneer Power Solutions

Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in Pioneer Power Solutions during the 4th quarter worth about $109,000. GSA Capital Partners LLP increased its holdings in shares of Pioneer Power Solutions by 138.1% in the 1st quarter. GSA Capital Partners LLP now owns 80,490 shares of the company’s stock valued at $460,000 after acquiring an additional 46,680 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Pioneer Power Solutions in the 4th quarter valued at about $221,000. Virtu Financial LLC purchased a new position in shares of Pioneer Power Solutions in the 1st quarter valued at about $91,000. Finally, Spectrum Investment Advisors Inc. purchased a new position in shares of Pioneer Power Solutions in the 4th quarter valued at about $774,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Pioneer Power Solutions Price Performance

Shares of NASDAQ PPSI opened at $4.73 on Monday. The stock’s 50-day moving average is $4.16 and its two-hundred day moving average is $4.55. Pioneer Power Solutions has a 1-year low of $3.35 and a 1-year high of $8.35. The company has a market cap of $46.97 million, a price-to-earnings ratio of 25.00 and a beta of 0.69.

Pioneer Power Solutions Company Profile

Pioneer Power Solutions, Inc, together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions. The company operates in two segments, Transmission & Distribution Solutions and Critical Power Solutions.